Vol. 17, No. 12
May 19, 2000
1999 Wisconsin Act 11 Video and Effect on Late Reported
Earnings and Participant Toll Free Number
The Department of Employe Trust Funds (ETF) is set to distribute
a new VHS video that reviews the new retirement benefit law and
its impact on Wisconsin Retirement System (WRS) benefits. The video,
1999 Wisconsin Act 11 and Your Wisconsin Retirement System Benefits,
was written and produced by ETF's Office of Communications.
The Department will distribute one copy of the program to each WRS
employer agent. You can expect to receive your copy soon.
The law provides several changes to WRS benefits and will affect
all WRS members, whether "inactive," retired, or currently
working. We encourage you to review the program first and then schedule
screenings with all employes so that everyone becomes more familiar
with the provisions of Act 11 and how the law could impact them
As of this writing, the Wisconsin Supreme Court's temporary
injunction on the implementation of Act 11 is still in place.
The 22-minute program covers the following topics:
- The size and scope of the WRS
- WRS funding sources
- How benefit changes under Act 11 will be funded
- The impact of Act 11 on WRS funding sources
- The impact of Act 11 on WRS Separation, Retirement, Disability,
and Survivor benefits
- Where and how to learn more about Wisconsin Act 11
All WRS employers will receive one VHS copy of the program but
are free to duplicate as many copies as needed. For more information
about the 1999 Wisconsin Act 11 and Your Wisconsin Retirement
System Benefits video, contact Nancy Ketterhagen, ETF Office
of Communica-tions, at (608) 266-7471 or e-mail questions to firstname.lastname@example.org.
1999 Wisconsin Act 11 Implementation Could Affect How
Much You Pay for Effective Rate Interest on Late Reported Earnings
1999 Wisconsin Act 11 provisions include a $4 billion distribution
from the Transaction Amortization Account (TAA) that would have
the impact of increasing the fixed effective rate. The fixed effective
rate is used to determine the amount of interest charged on late
reported earnings (i.e., earnings that were not reported in the
year when the earnings would normally have been paid).
ETF estimates that the $4 billion TAA transfer will increase the
1999 fixed effective rate by roughly 10% above the already credited
13.5%. This means employers may pay additional interest on contributions
for late reported earnings.
Due to the temporary injunction delaying implementation of 1999
Wisconsin Act 11, processing changes required as a result of WI
Act 11 cannot be completed. This prevents ETF from processing late
reported earnings reports and from producing invoices for the contributions
and interest due.
Once the court rules on the constitutionality of Wisconsin Act
11 and/or lifts the injunction, ETF will begin producing invoices.
The date ETF receives your Employe Transaction Report (ET-2533)
determines the date to which interest is assessed. Even though ETF
may not be able to process your late reported earnings until sometime
in the future, you will only be billed for the interest due up through
the date ETF received your report.
Additional information about the new law is found on ETF's
web site at etf.wi.gov.
Please direct questions to the Employer Communication Center at
New Participant Toll-Free Customer Service Telephone
ETF is pleased to announce a new toll-free customer service telephone
line for employes participating in benefit programs administered
by ETF. Please post the attached page for your employes. Employers
should continue using the Employer Communication Center for employer-related
inquiries. The Employer Communication Center telephone number is
Announces New Toll-Free
Customer Service Telephone Line
of Employe Trust Funds is pleased to announce the availability
of a new toll-free customer service telephone number. Participants
can speak with a benefits specialist toll free by dialing
1-877-533-5020. The toll free number is
good anywhere in the USA. The local Madison number is (608)
266-3285. ETF's self-service telephone lines continue
to be available.
Toll Free Customer Service: 1-877-533-5020
Telephone Message Center: 1-800-991-5540
Local Madison: 264-6633
Listen to more than 100 messages related to WRS benefits.
Toll Free Self-Service Line: 1-877-383-1888
For forms and brochures, tax withholding changes
and annuitant home address changes.